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Dublin CA sales activity for October 2009 showed a drop in closed sales for the month. In all, 26 single family homes closed in Dublin for October, down from 35 closed sales in September. Sales prices ranged from $349,900 to $1,250,000 for a home in Pinnacle Ridge in Dublin Ranch. The median sales price for October was $603,500, up slightly from the median price of $600,000 in September. The median price per sq ft for closed single family homes was $282, down slightly from September’s figure of $290. The average days on market for the sales in October was 28 days, also down from 33 days on the market in September.
Interestingly, on average the homes that sold in October closed at 100.3% of asking price, which is higher than the September number of 99.6%. Obviously, the market is very strong when the average sales price is over the average asking price. This is further confirmation that the Dublin housing market continues to sizzle.
In terms of distressed sales, 34.6% of the closed sales in October were distressed sales (short sales and REO/bank owned properties), down from 57.1% in September. There is still a large percentage of the sales in Dublin that are short sales or bank owned, and many of the pending sales (which will be closing in the next few months) are in this category. The median age for the closed sales in Dublin is 11, down from 9 in September.
It seems the only thing holding down closed sales in Dublin is a shortage of inventory. Certainly, demand is there, and the prices are reflecting the strength of the market.
In terms of sales activity, the Dublin neighborhoods of Dublin Ranch, Hansen Hill & The Ridge, Echo Park, and Silvergate all had strong showings.
Here is a complete list of closed sales in Dublin:
Dublin Home Sales October 2009